In 2006, Malaysia sustained its economic growth with the economy growing at 5.9 per cent. The manufacturing sector continued to be a major contributor to the economy, contributing 31.1 per cent to the GDP.
The Industrial Production Index (IPI) increased by 7.5 per cent to 139.0 in 2006, compared with 129.3 in 2005. The services sector contributed 51.8 per cent to the GDP. International trade and investments into Malaysia also reached record levels.
The year is also significant as two important Plans, namely the Ninth Malaysia Plan (2006 – 2010) and the Third Industrial Master Plan were launched to provide Malaysia's policy directions and strategies, to reach developed country status by 2020.
In 2006, Malaysia maintained its ranking as one of the major trading nations in the world. The World Trade Organization (WTO) ranked Malaysia as the 19th largest exporter and 23rd largest importer, with an overall ranking of 19 as a trading nation.
International trade is an important contributor to national growth. In 2006, total trade was 196 per cent the size of the Gross Domestic Product. Total trade increased by 10.5 per cent in 2006, higher than the 7 per cent growth per annum targeted under the IMP3.
As has been announced, total trade reached the landmark figure of RM1.07 trillion in 2006 from RM967.8 billion in 2005, with exports expanding by 10.3 per cent to RM589 billion, and imports increasing by 10.8 per cent, to RM480.8 billion.
Malaysia's top five trading partners in 2006 were the United States of America (USA), Singapore, Japan, the People's Republic of China and Thailand, together accounting for 55.3 per cent of the total trade in 2006.
In 2007, total trade continues to show an upward trend. For the period January to April 2007, total trade amounted to RM341.4 billion, an increase of 2.7 per cent, from RM332.4 billion in the corresponding period of 2006.
Click here to view more:
Ministry of International Trade and Industry